We know that with nearly 100 cases of coronavirus detected, Italy is the country hardest hit by the pandemic in terms of its population.
However, it is from the other side of the Alps that we are receiving news that is somewhat hopeful. In this case, from Ferrari, in Maranello, where after having been approached by the company Siare Engineering, a company from Bologna, to help accelerate the manufacture of respirators, the prancing horse brand announced at the end of last week wanting to relaunch its production line on April 14.
From March 14, Ferrari was one of the first Italian companies to put its production on hold, at its two sites in Maranello and Modena, in order to limit the risks to its staff, for a period of two weeks.
Once it expired, the Italian firm therefore extended this shutdown for two additional weeks while anticipating a restart at the end of this one-month pause, if its suppliers can meet demand.
Has the health situation really improved in Italy? For the moment, no, but let's hope that, as Ferrari seems to think, the peak of the wave will be exceeded in two weeks, which could then allow other manufacturers such as Ducati, Aprilia, MV Agusta and Yamaha to follow suit. of the black horse.
Unless this press release is only intended to reassure shareholders...
FERRARI WILL RESUME PRODUCTION IN MARANELLO AND MODENA FROM APRIL 14, 2020.
Maranello, March 27, 2020 – Ferrari NV (“Ferrari” or the “Company”) (NYSE/MTA: RACE) today announces that, subject to the continuity of the supply chain, it now plans to resume production from April 14, 2020.
All activities that can be carried out within the framework of smart working will continue to be carried out as has been the case in recent weeks. The company will continue to cover all days of absence for those who cannot take advantage of this solution.
Given the enormous uncertainty and lack of predictability that Covid-19 has created, the Company is taking all appropriate measures to ensure the well-being and health of its employees and which are deemed to be in the best interests of all. stakeholders. The Company anticipates that it will be able to provide additional financial guidance to the investment community during its first quarter earnings call on May 4, 2020. It remains confident that, given its capital base of brand, its strong balance sheet and its healthy business model, it will continue to create value for all stakeholders beyond short-term uncertainties.
